International Trade Association Market of Ecuador
(Pending approval. Not actively opening up accounts)
vision & Mission
We envision a future where every small and medium enterprise (SME) seamlessly integrates state-of-the-art technology to thrive and compete on a global scale.
Our mission is to empower SMEs by providing them with the necessary tools, knowledge, and support to embrace and leverage cutting-edge technology for sustained growth and success.
Our association is the culmination of a collaborative effort involving two distinct entities: the Territorial Bank of Ecuador and PayServices.com, an international financial institution and leading technology provider; together: Founding Partners.
This unique partnership leverages the collective expertise and resources of these organizations to establish a platform dedicated to advancing economic growth, promoting financial innovation and financial inclusion, and facilitating business excellence in the region.
association & Benefits
From networking opportunities and access to industry insights to advocacy and professional development resources, our association is committed to providing you with the tools and support you need to thrive in your field.
Access to the best business productivity tools is pivotal for organizations seeking to tap into the global market while simultaneously lowering the barriers of entry.
Our commitment to providing our members with cutting-edge financial solutions ensures that they have the necessary tools to navigate the complexities of international commerce.
By becoming a member of ITAM, companies of all sizes can unlock access to groundbreaking technology that traditionally only the largest corporations could afford.
Additionally, our association offers a spectrum of tax benefits meticulously crafted to supercharge productivity and amplify the reach of your business.
Join us today to harness the power of innovation and fiscal advantages, propelling your company towards unprecedented growth and success.
membership & Fees
At the heart of our membership structure is the belief that 'your success is our success.' We are committed to supporting your growth and prosperity.
To sustain the resources and services that empower your business, we charge an annual nominal membership fee.
Additionally, we implement assessment fees, carefully calculated based on the volume of activity within the ITAM platform.
These assessment fees are essential to help cover the financial requirements associated with running the platform, ensuring that we can continue to provide you with the state-of-the-art tools and support you need to thrive in your respective industry.
It's important to clarify that one of the key requirements to become a member is to establish a physical presence in the host nation.
However, once accepted as a member of ITAM, you automatically become eligible for the preferential benefits, which include the advantageous tax rate provided by the Treasury.
To facilitate the process of establishing a presence in the host nation, we offer the option of setting up a local company registration, which can be structured as a division of an existing foreign corporation.
We've streamlined this entire process to be user-friendly and convenient, allowing you to complete it online through our website.
This simplified approach ensures that you can access these benefits swiftly and efficiently upon becoming a member of ITAM.
assessment Schedule
| TOTAL GROSS REVENUE (per annual calendar period) | MAXIMUM FEE |
|---|---|
| $0 to $1 million | $250 (the minimum annual membership fee) |
| $1 million to $10 million | $2,000 + $0.25 per thousand dollars of revenue in excess of $1 million |
| $10 million to $50 million | $4,250 + $0.19 per thousand dollars of revenue in excess of $10 million |
| $50 million to $100 million | $11,850 + $0.12 per thousand dollars of revenue in excess of $50 million |
| $100 million to $500 million | $17,850 + $0.10 per thousand dollars of revenue in excess of $100 million |
| $500 million to $1 billion | $57,850 + $0.09 per thousand dollars of revenue in excess of $500 million |
| $1 billion to $3 billion | $102,850 + $0.08 per thousand dollars of revenue in excess of $1 billion |
| $3 billion to $10 billion | $262,850 + $0.07 per thousand dollars of revenue in excess of $3 billion |
| $10 billion to $20 billion | $752,850 + $0.03 per thousand dollars of revenue in excess of $10 billion |
| $20 billion and over | $1,052,850 + $0.02 per thousand dollars of revenue in excess of $20 billion |
** Upon becoming a member of the association, the treasury shall apply a preferential income tax rate of 4% on the member's income.
** Commercial transactions occurring on PayServices are charged at a 1% processing fee.
The income tax and processing fee are separate from the assessment schedule.
The processing fee is charged at the time of the transaction. Likewise, the assessment fee is adjusted and charged dynamically.
The quarterly estimated income tax is due quarterly and the annual report is due once a year.
business Tools
Our suite of business tools is designed to empower your company with efficiency and financial agility.
With our offering, available at this time at no extra charge as a benefit of being an ITAM member, you gain access to essential resources that can streamline your operations and enhance your business' financial health.
This includes the following valuable comprehensive tools at your disposal, with which you can focus on your core business to grow and succeed while we take care of the logistical business infrastructure.
- Free Multi Currency Current Account
- Comprehensive Mobile Banking App
- International Trade Market
- Payroll Services
- Invoicing Platform
- Accounting Tools
- Inventory Management
- E-commerce Platform
- Smart Contracts
- Bill Pay
leadership & TRANSPARENCY
Our company's leadership of excellence is a dynamic consortium composed of visionary representatives hailing from our esteemed founding partners, seasoned government advisors with deep-rooted expertise, and distinguished leaders from the private sector.
Together, they forge a formidable alliance that steers our organization towards unparalleled success, guiding us towards a future marked by innovation, resilience, and unwavering commitment to our mission.
The board plays a pivotal role in ensuring the holistic well-being of ITAM, overseeing critical aspects such as policy formulation, marketing strategy, implementation, and day-to-day operations.
As stewards of our organization's mission and values, the board takes on the responsibility of crafting policies that not only align with our vision but also promote ethical and sustainable practices.
Through strategic guidance, robust marketing strategies, efficient implementation, and vigilant operational oversight, the board remains committed to safeguarding ITAM's growth and long-term success, while maintaining our unwavering dedication to excellence in all our endeavors.
Mathew Murdock
President
Peg Nelson
CEO
Felicity Jones
Executive Vice President
At ITAM, our commitment to fairness and transparency is reflected in our fee structure, which is designed to sustain our operations while contributing to the greater good. Members operating via ITAM pay different fees, which are allocated as follows:
Membership dues and Assessment Fees
These fees are essential for covering the day-to-day operational costs of ITAM. They play a critical role in supporting our marketing initiatives, which in turn promote the platform and advocate for the best interests of our members. We thrive to facilitate seamless coordination between the various entities within ITAM and relevant government bodies, ensuring a harmonious and effective ecosystem.
Tax Contributions for Preferential Benefits
The contributions made for preferential benefits are paid in the form of income taxes. These taxes are directed to the treasury of the nation and take the form of preferential benefits, such as tax rebates, special rates and discounts, all designed to benefit our members. We view this as a social responsibility, a way to contribute positively to our nation's economic well-being, and a means of giving back to our members.
Platform Processing Fee on Payments
To ensure the cybersecurity and privacy of our platform, a portion of the fees is directed towards PayServices. This supports their compliance requirements and operational expenses, which are critical for maintaining the highest standards of security and privacy. Our commitment to safeguarding our platform ultimately serves the best interests of our members and ensures their peace of mind when using ITAM.
Through this comprehensive fee structure, ITAM seeks to create a thriving environment where our members' interests are protected and promoted, while also benefiting the nation and upholding the strictest standards of cybersecurity and privacy.
We believe in transparency, responsibility, and excellence in all aspects of our operations.